Price Of High Finance

LETTERS TO THE EDITOR

April 15, 1990

DICK Marlowe wrote about robbery in the world of high finance and what a tragedy it is. He failed to mention that First Executive, CenTrust and Lincoln Savings and Loan all had junk bond investments in Frank Lorenzo's Texas Air.

Lorenzo took Continental Airlines into bankruptcy in 1983 and busted all the unions. Six years later he took Eastern Airlines and did the same thing after bleeding Eastern dry of assets and money. Many people at Eastern lost good jobs and their livelihoods.

The sad thing about it is, the little guy in our country will have to pay a big price for years to come while these so-called executives go scot free.